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India Ratings for Indian debt instruments – Oct 3
October 3, 2017 / 4:06 AM / 2 months ago

India Ratings for Indian debt instruments – Oct 3

    Oct 3 (Reuters) - Below are the ratings awarded by India Ratings and Research Private Ltd
(India Ratings), formerly known as Fitch Ratings India for local debt instruments as of
September 29, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Aditya Birla Finance Ltd        CP                     IND A1+          170      Assigned
Aditya Birla Housing Finance LtdCP                     IND A1+          15       Assigned
Motilal Oswal Financial         CP                     IND A1+          2        Assigned
Services Ltd
Motilal Oswal Securities Ltd    CP                     IND A1+          8        Assigned
Shriram Transport Finance Co.   CP*                    IND A1+          35       Assigned
Ltd
*Unutilised

LONG TERM RATINGS:
-------------------
Cashpor Micro Credit            Bk loans               IND BBB          6339     Affirmed
India Standard Loan Trust –     Series A pass- through IND AA(SO)       929.85   Affirmed
XXXIV                           certificates (PTCs)
India Standard Loan Trust –     Liquidity facility (LF)IND AAA(SO)      13       Affirmed
XXXIV
India Standard Loan Trust –     Second loss credit     IND BBB(SO)      64.8     Affirmed
XXXIV                           facility (SLCF)
Ntpc Ltd                        Long- Term Issuer      IND AAA / A1+             Affirmed
                                Rating
P K Overseas Pvt Ltd            Fund- based WC limit   IND BB/ IND A4+  380      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
P K Overseas Pvt Ltd            Proposed fund- based   Provisional IND  170      Migrated to
                                WC limit               BB/ Provisional           Non-
                                                       IND A4+                   Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Quail Cv Ifmr Capital 2016      Series A2 pass-        IND A- (SO)      27.74    Affirmed
                                through certificates
                                (PTCs)
Quail Cv Ifmr Capital 2016      Series A3 PTCs         IND B+(SO)       17.48    Affirmed
Shri Ramswaroop Memorial        TL                     IND BB-          128      Upgraded
Charitable Trust
(reduced from 216.87)
Shri Ramswaroop Memorial        TL                     IND BB-          338.3    Upgraded
Charitable Trust
(reduced from 350)
Shri Ramswaroop Memorial        Fund- based WC Fac     IND BB-          368      Upgraded
Charitable Trust
(reduced from 370)
Tayal Sons Ltd                  Fund- based limit      IND BBB- /IND A3 250      Assigned

-----------------------------------------------------------------------------------------------
Note:- All Indian National-scale ratings previously assigned by Fitch have been transferred to
India Ratings & Research Private Ltd (India Ratings), which is a wholly owned subsidiary of the
Fitch Group. The withdrawn criteria are now available on India Ratings' website at
www.indiaratings.co.in

$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

INDIA RATINGS may apply + or - signs for ratings to reflect a comparative standing within the
category.

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures; RWN- Rating
Watch Negative;
RWN- Rating Watch Evolve.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222, E-mail at
rru.data@thomsonreuters.com)

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